Omar, a Broker, has a client that has $1 million in liability coverage on his insurance policy. The client's renewal is approaching and Omar decides to increase it to $2 million as the premium increase is minimal. Does Omar need consent from his client to amend the policy? No, he only needs consent if he is removing coverage. Yes, because there is an increase in the premium. No, because it is in the best interest of the client. Yes, all policy changes need consent from the client.

Omar, a Broker, has a client that has $1 million in liability coverage on his insurance policy. The client's renewal is approaching and Omar decides to increase it to $2 million as the premium increase is minimal. Does Omar need consent from his client to amend the policy? No, he only needs consent if he is removing coverage. Yes, because there is an increase in the premium. No, because it is in the best interest of the client. Yes, all policy changes need consent from the client.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 3RP

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